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For the day ahead
Litecoin is expected to break through the $ 59.53 pivot to support a run at the first major resistance level at $ 61.60.
However, support from the broader market would be needed for Litecoin to exceed $ 60.
Barring an extended cryptocurrency rally, the first major resistance level would likely limit any upside.
In the event of a sustained breakout, Litecoin would likely test resistance at $ 62 before any pullback. The second major resistance level is found at $ 63.96.
Failure to break out of the $ 59.53 rotation level would bring the first major support level at $ 57.17 into play.
Barring another extended sell-off later in the day, however, Litecoin should avoid the second major support level at $ 55.10.
Looking at the technical indicators
First major support level: $ 57.17
Pivot Level: $ 59.53
First major resistance level: $ 61.60
23.6% FIB Retracement Level: $ 45.30
38.2% FIB Retracement Level: $ 71
62% FIB Retracement Level: $ 100
Ripple’s XRP
Ripple’s XRP fell 1.23% on Monday. Partially reversing Sunday’s 1.79% gain, Ripple’s XRP ended the day at $ 0.25056.
A mixed start to the day saw Ripple’s XRP rise to a morning high $ 0.2560 before reversing.
Failing to hit the first major resistance level at $ 0.2580, Ripple’s XRP fell to a late morning low $ 0.24933.
Avoiding the first major support level at $ 0.2486, Ripple’s XRP hit a late morning intraday high $ 0.25610.
Continuing to fall short of the first major resistance level, Ripple’s XRP fell to an afternoon intraday low $ 0.24593.
Ripple’s XRP declined through the first major support level at $ 0.2486 before moving back to $ 0.25 levels.
At the time of writing, Ripple’s XRP was down by 0.45% to $ 0.24943. A bearish start to the day saw Ripple’s XRP fall from a morning high of $ 0.25055 to a low of $ 0.24823.
Ripple’s XRP left the major support and resistance levels untested early on.
